M&A - Loar Holdings Inc.

Form Type: 10-Q

Filing Date: 2025-05-13

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025069849

Filing Summary: Loar Holdings Inc. has reported its quarterly financial results for the period ending March 31, 2025. The company experienced an increase in net sales to $114.7 million, compared to $91.8 million in the same period last year, driven by growth in both original equipment manufacturing (OEM) and aftermarket sales across its commercial and defense sectors. The cost of sales also increased, leading to a gross profit of $59.7 million, up from $44.4 million. However, selling, general and administrative expenses rose significantly from $22.9 million to $33.1 million due to increased operational activities and transaction expenses. The operating income was reported at $26.1 million, contributing to a net income of $15.3 million, which indicates a substantial improvement from the previous net income of $2.3 million in 2024. The total assets of the company have increased to $1.48 billion, while total liabilities stand at $372.2 million. Notably, the company reported a $383.5 million acquisition of Applied Avionics, enhancing its capabilities in avionics solutions. The report outlines the expected synergies and contributions from this acquisition to future growth. Additionally, the document highlights the company's successful completion of initial public offerings and follow-on offerings, reflecting strong investor interest. Lastly, the firm is evaluating the impacts of new accounting standards disclosed in the report for upcoming fiscal periods, which includes updates to income tax disclosures and comprehensive income expense disaggregation.

Form Type: 8-K

Filing Date: 2025-03-07

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025035692

Filing Summary: On March 7, 2025, Loar Holdings Inc. reported the entry into a material definitive agreement via a Put Option concerning the acquisition of ASC3 LMB Topco and ASC3 LMB FinCo, subsidiaries organized under French law. The total transaction value is approximately €365 million, plus the assumption of estimated net debt of €44.3 million. The agreement will be finalized following the necessary consultation process as mandated by French Law, pending approval from the French Ministry of Economy. Additionally, a Warranty Agreement was signed on the same day to provide customary representations and warranties for the Purchaser, limited to a liability cap of one euro unless fraud is involved. The acquisition aims to enhance Loar Holdings' position in the aerospace and defense sector, alongside ongoing strategic initiatives.

Form Type: 8-K

Filing Date: 2025-02-21

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525030870

Filing Summary: On February 20, 2025, Loar Holdings Inc.'s subsidiary, Loar Group Inc., entered a Put Option to acquire the entire equity interests of LMB and FinCo from various sellers for approximately €365 million, plus an estimated net debt assumption of €44.3 million. The acquisition is contingent on the proper consultation process with LMB's social and economic committee per French law. Expected closing is before the end of Q3 2025, pending customary closing conditions and approval from the French Ministry of Economy. The registration also announced a press release which included preliminary financial results for Q4 and full year 2024, highlighting their ongoing acquisition strategy and financial performance expectations. Loar Holdings is engaging in debt financing to cover the acquisition expenses.